We human beings are strange creatures and still reserve the right to think for ourselves.
When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.
In 1977, when I started my first job at the Federal Reserve Board as a staff economist in the Division of International Finance, it was an article of faith in central banking that secrecy about monetary policy decisions was the best policy: Central banks, as a rule, did not discuss these decisions, let alone their future policy intentions.
The Federal Reserve's objectives of maximum employment and price stability do not, by themselves, ensure a strong pace of economic growth or an improvement in living standards. The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work.
I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way.
Our Strategic Petroleum Reserve is there for a natural disaster or some other catastrophe.
Fractional reserve banks are sitting ducks and are always subject to contraction. When the banks' state of inherent bankruptcy is discovered, for example, people will tend to cash in their deposits, and the contractionary, deflationary pressure could be severe.
The Federal Reserve ranks among the most transparent central banks. We publish a summary of our balance sheet every week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the website of the Federal Reserve Bank of New York.
Citigroup, Bank of America, and JP Morgan Chase should not be permitted to charge consumers 25- to 30-percent interest on their credit cards, especially while these banks received over $4 trillion in loans from the Federal Reserve.
I don't generally follow sports. At an early age, I discovered that nature had apportioned me only a small reserve of enthusiasm. Best to ration.
The Haisla named this point Obela. Not so long ago, the bay was lined with longhouses and canoes, totem poles and fishing gear. The reserve was once a winter village, a place to celebrate the sacred season, when memories passed in dance and song and stories from one generation to the next with great feasts called potlatches.
I was Chairman of the Federal Reserve Bank of Kansas City. As you know, there are twelve banks and they have their citizens board, and I got elected to the Fed Chairmanship for the Federal Reserve Kansas City Bank back in the mid-'90s. It might have been 1995-'96.
I always love going on a safari drive whenever I visit Ulusaba Private Game Reserve in South Africa. I've been fortunate to see so many incredible animals over the years, and each time, it's completely different. Following Ulusaba's pack of wild dogs is my highlight.
I love kids with a passion I usually reserve for hot cheese, miniature chairs, and Prince concerts, but I feel no stress to reproduce simply because of a fear of withering eggs.
The States is run by the Federal Reserve, an institution that answers only to itself and to a few large banks. It's modelled on the Bank of England. Ben Franklin said that one of the main reasons America revolted was to get away from the Bank of England, the mother of all central banks - the most pernicious and insidious of all.
I really enjoyed staying at an encampment at the top of a hill in the Samburu Reserve in Kenya. You reach it on a small plane; there is no electricity, no city noises and you sleep and shower under the Milky Way, with moths fluttering around a kerosene lamp, knowing that there are elephants and lions roaming free in the valley.
A dollar vigilante is a free market individual who protests the government monopoly and financial policies, such as fractional reserve banking and unbacked fiat currencies, by selling those same fiat currencies in favor of other assets, including gold and precious metals.
The Congress has had an uneasy relationship with banks and bankers since Alexander Hamilton. It took the United States until 1913 to set up a central bank. The Federal Reserve earned its hard-won independence over years of effort.
Alan Greenspan is going to go down in history as one of the worst Federal Reserve chairmen ever.